Bond Mispricing, and ESG Matters in the Cold
While Stockholm investors were off enjoying their skiing vacations this week, the ever-industrious NordSIP sat down with Founding Director Guy Cameron and Keith Logan of Scottish-based asset manager Cameron Hume for an intimate view of the firm’s journey into sustainability and how the bond market misprices sustainability. Sweden-based investment platform Aktieinvest’s CEO Therese Lundstedt announced that Aktieinvest is now offering big-data specialist Arabesque’s S-Ray screening as part of its investment armoury, the latest in a growing line of firms adopting the sustainable investment tool. Danske Invest announced it will divest 90 companies involved in tar sands and thermal coal to comply with Danske’s commitment to the Paris Accord, a move following the appointment of Ulrika Hasselgren as Head of Responsible Investments last month (and coming at an opportune time, with Danske currently under investigation for Russian money laundering).
Meanwhile, Natixis Investment Managers published a White Paper finding that institutional investors are adopting a more active approach to ESG, with 60% of them globally integrating ESG into their strategies as part of the emerging norm of aligning investments with already existing organizational values. In Denmark, Danmarks Grønne Investeringsfond found it has spent the not inconsiderable sum of €75 million on green projects in 2017, with another €63 million already projected for 2018, while Danish environment minister Esben Lunde Larsen took a trip to the United Arab Emirates last week to figure out how Danish technologies can help deal with the UAE’s water and food supply shortages.
Heard on E-Street
Communications agency Hallvarsson & Hallvarsson is to organise and host The Nordic Financial Communication Summit, the largest conference for financial communications in the Nordics, on May 30th 2018. Featured speakers so far include Pippa Malmgren, influential author and financial adviser to president George W. Bush, Alecta CEO and HLEG sage Magnus Billing, Ann Grevelius and Lauri Rosendahl (Chicago Evening Post). Union Bancaire Privée launched UBAM (EM Sustainable High Grade Corporate Bond), a new emerging markets fixed income fund managed by Denis Girault to enhance UBP’s ESG capacities (Institutional Asset Manager). Ikea acquired 25,000 acres of U.S. forest property in Alabama earlier this month as part of its broader strategy to invest in the sustainable production of resources that the company consumes directly, adding to the 250,000 acres it owns in the Baltic States and Romania (PRNewswire).
Labour-market pension fund PensionDanmark added Ulrikke Ekelund, previously head of press and communications, and Marianne Fussing Ørsted, previously deputy director, to its executive board, its first female appointments at that level. “Skilled Leaders,” CEO Torben Möger Pedersen said (Investments & Pensions Europe).
Question of the Week
Which asset management specialist was among the first to launch a gender-equality Exchange-Traded Fund late last year?
Famous Last Words
“This is an anomaly among anomalies. It is far enough outside the historical range that it is worrying – it is a suggestion that there are further surprises in store as we continue to poke the angry beast that is our climate” – Michael Mann, Director of the Earth System Science Center at Pennsylvania State University, on the heat wave in the Arctic currently causing Western Europe’s blizzard maelstrom (Guardian).
Feeling cold yet? (But don’t consult Trump on icebergs!). Happy weekend,
Your NordSIP team
Image: (c) NosorogUA-shutterstock